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EA in Hostile Bid to Acquire Take Two 1 Comments
GamePolitics.com is reporting on an acquisition proposal for Take Two that has now become public. In the proposal, EA is offering $26 per share for Take Two stock, a 60% premium over recent share prices.
Read the entire letter from John Riccitiello, CEO of Electronic Arts.
An EA press release claims that it offered $26 per share for Take Two stock in a February 19th letter from EA CEO John Riccitiello (right) to T2 boss Strauss Zelnick (left). After Take Two management rejected EA’s offer, Riccitiello decided to appeal directly to T2 shareholders. The $26 offering price represents a better than 60% premium over recent T2 share prices.
Read the entire letter from John Riccitiello, CEO of Electronic Arts.
Take Two has posted this - just a few hours after the letter from John Riccitiello hit the net: http://ir.take2games.com/ReleaseDetail.cfm?ReleaseID=295739